After the victory of the Republican Donald Trump last week, the Vice Chairman of the Federal Reserve Stanley Fischer reiterated on Friday his request for the actual implementation of Trump’s promise during campaign that he will provide an additional fiscal policy stimulus to the US economy.
US economy
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As economic analysts studies the US economy after 2 years, claims have been made that it has already reached its peak.
The demand for the US industrial products declined in February, signalling an additional slowdown in the country's economic growth. Fresh orders for the US industrial products dropped 1.7% in February, compared to an increase of 1.2% in January.
US labour market is gaining grounds helped by robust consumer spending, despite poor profits among corporate giants. The country added more than 200,000 jobs per month, with an average recruitment totalling to 213,000 new jobs a month in the past four years.
Wall Street faced slight losses in the stock market on Monday as the drop in oil price burdened energy stocks. Investors are shying away from these energy stocks owing to the fall in crude prices.
Investment firm BlackRock has modernized its trading policies with the help of twenty tech skilled members' team. The company is shifting to electronic trading to overcome market challenges.
The US Postal Service will cut the price of postage, the first time in nearly hundred years. While, the cost of all commodities are rising, the drop in stamp prices surprises consumers. The cost decrease is anticipated to come live on April 10, 2016.
G-20 summit has been concluded with no major surprising outcome. Lack of strong commitments has helped Yen to gain some value against US dollar. However, on Monday, US dollar has regained some value. The appreciation has been analyzed as an outcome of positive US data which in turn is the consequence of Fed rate hiking.
According to Indra Nooyi, the ongoing global economic slowdown threatens economic recovery in the US. The oil market combined with political turmoil creates an economic pressure in the nation.
The finance minister of Canada, Bill Morneau, is expected to disclose the principal terms of Liberal's first budget on Monday. Morneau's revised budget figures will highlight the problems facing Canada's economy.
Shares of BHP Billiton, a mining and petroleum firm in Melbourne, started chasing oil prices very closely as they entered into the horrible downturn period in the oil industry. Analysts expect the miner to rally by nearly 50% in the coming months.
Berkshire Hathaway made a significant investment in the energy firm Kinder Morgan during the final three-month period of 2015. This investment activity highlights Berkshire's increasing bet on the oil sector.
The economy of Japan shrank during the fourth quarter of 2015 as a result of weak export and demand. The shrinking population also added to the economic slowdown.
BP enters into an agreement with Oman government to widen the license area of Block 61. The company strengthens its commitment in Oman with a view to broadening its business in the country.
The present government of Canada is experiencing a series of scarcity in the budget, which could reach $90 billion over the mandate period of four years. The struggling Liberal government needs to insert a minimum of C$50 billion into Canada's fading economy to assist the nation to sustain the fall in oil prices.
